The COVID-19 pandemic is still raging across the U.S., and it has affected every aspect of our lives. Millions of people have lost their jobs. The federal government passed an enormous stimulus package and may pass another one soon. Most of us haven’t eaten in a restaurant, watched a sporting event, hugged a friend, or boarded a plane in months. Some industries, like movie theaters and cruises, … [Read more...] about Pandemic Savings Habits To Adopt For The Long Term
Every path to financial security starts somewhere. Some of us had a leg up, in the form of debt-free college educations or trust funds. But lots of us didn’t. As you’ve probably read, fewer than half of Americans have enough money saved to cover a $1,000 emergency. If you don’t have an emergency fund or if you’re afraid to look at your credit card balance, you’re far from alone. The good … [Read more...] about The Building Blocks of Financial Security
Many millennials were either just starting our careers or still in school in 2008, and now we’re older, with more complicated lives and the additional bank accounts to match. Many of us have kids and mortgages now, or small businesses with employees we’ve had to lay off — or both. Once again, we’re faced with a truly scary time. We’re afraid for our health and the wellbeing of the people we love. … [Read more...] about What Does Market Volatility Mean for Your Investments?
Last week in the Gen Y Planning blog, I discussed what you should consider if you’re thinking of refinancing your mortgage. This week, let’s look at another form of debt keeping millennials up at night: student loans. When you refinance your student loans, you trade your federal or private loans for a private loan with different terms. The potential switch from a federal to a private loan means … [Read more...] about Should I Refinance My Student Loans?
This question was submitted by a reader! Do you have a money question you’d like Gen Y Planning to answer in a future blog post? Submit it to genyplanning.com/askgyp. I am a high schooler getting ready to apply to colleges soon and would like to ask for your expert financial opinion. Do you think it is a smart decision to go out of state to university? If I do, I would have undergrad debt … [Read more...] about Ask Gen Y Planning: Is Student Loan Debt Worth It?
“It’s complicated” is a great way to describe life in your 30s. You’ve been working for a while, so you might finally feel more financially stable than ever before. But on the other hand, you often have competing financial priorities. Career growth, serious relationships, family, and major life purchases tend to make this a very busy decade. Also, tiny wrinkles start showing up where you didn’t … [Read more...] about 8 Money Mistakes to Avoid in Your 30s